The following is budget information for a hypothetical economy. All data are in billions of dollars.
Refer to the above table. In which year is there a budget surplus?
A. Year 1
B. Year 2
C. Year 4
D. Year 5
A. Year 1
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Suppose a government tax cut increases disposable income. If there is no change in the government deficit or surplus, what effect would this tax cut have on the supply of loanable funds and the demand for loanable funds? What will happen to the real
interest rate?
The number of live births per 1000 people in the population per year is the
(a) hidden momentum of population growth. (b) population growth rate. (c) demographic transition. (d) crude birth rate.
In the above figure, if the firm is producing at Q3 and charging a price of P3, it should
A) increase output and decrease price. B) decrease output and increase price. C) not change output or price. D) shut down.
Which of the following transactions would increase GDP?
a. a new tricycle purchased at a department store sale by the parents of a three-year-old child b. the retirement check your uncle received for spending 25 years in the Marine Corps c. the five shares of Microsoft stock your grandparents gave you for making an A in economics d. the $200 you lost when your wallet was stolen